ECONOMY
THE PAPER AND THE ROAD
Nigeria signed N690 billion in road contracts this week. That same week, OPEC confirmed the country’s oil rig count dropped 41.7 per cent in a single month. One announcement. One number. Same story. The federal government signed contracts for four road…
THE ABYSS
Nigeria has 39 million small businesses. They employ the majority of the country’s private sector workers. Fewer than one in twenty of them can access formal bank credit. That’s not a funding gap. That’s a design. Dele Oye, chairman of the Alliance for Economic…
THE NUMBER
N130 trillion. That’s the estimated credit requirement for Nigeria’s 39 million small businesses. The country’s development finance institutions have about N8 trillion in assets. The gap between those two numbers is N122 trillion. To feel what N130 trillion means,…
THE UPGRADE
Three global rating agencies have now upgraded Nigeria in twelve months. The same weekend, the country confirmed seventeen dead officers and eighty-seven kidnapped students. Both things are the official record. S&P Global Ratings raised Nigeria’s sovereign credit…
YOUR MONEY ABROAD
The CBN has rewritten the rules on how Nigerians send, receive, and move money across borders. The fourth edition of the forex operational manual takes effect June 1. Here is what it actually changes for you. The Central Bank of Nigeria published its fourth edition…
YOUR BUILDING JUST GOT MORE EXPENSIVE
A bag of cement cost N9,000 in December. It now costs N13,000. That increase will reach you even if you aren’t building anything. The price of a 50kg bag of cement has hit N13,000 in parts of Nigeria following fresh price adjustments by Dangote Cement and BUA…
THE SPEECH AND THE LOAN
Tinubu flew to Nairobi and told the world that Nigeria’s debt is eating it alive. The same week, his government moved to borrow another $1.25 billion. On Tuesday, at the Africa Forward Summit in Nairobi, President Tinubu delivered one of the sharper speeches of his…
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Nigerian. Life. Explained.